Eurizon Capital SGR S.p.A. Takes Position in Range Resources Corporation $RRC

Eurizon Capital SGR S.p.A. acquired a new stake in Range Resources Corporation (NYSE:RRC) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 20,700 shares of the oil and gas exploration company’s stock, valued at approximately $732,000.

Several other institutional investors and hedge funds have also made changes to their positions in RRC. Boston Partners boosted its holdings in shares of Range Resources by 59.3% in the third quarter. Boston Partners now owns 11,817,550 shares of the oil and gas exploration company’s stock valued at $445,196,000 after acquiring an additional 4,398,042 shares in the last quarter. AQR Capital Management LLC boosted its holdings in shares of Range Resources by 517.6% in the third quarter. AQR Capital Management LLC now owns 2,440,277 shares of the oil and gas exploration company’s stock valued at $91,852,000 after acquiring an additional 2,045,165 shares in the last quarter. Holocene Advisors LP bought a new position in shares of Range Resources in the third quarter valued at approximately $66,560,000. UBS Group AG boosted its holdings in shares of Range Resources by 66.3% in the fourth quarter. UBS Group AG now owns 3,588,540 shares of the oil and gas exploration company’s stock valued at $126,532,000 after acquiring an additional 1,430,477 shares in the last quarter. Finally, Assenagon Asset Management S.A. bought a new position in shares of Range Resources in the fourth quarter valued at approximately $37,820,000. 98.93% of the stock is currently owned by institutional investors.

Range Resources Stock Up 0.4%

RRC stock opened at $39.83 on Thursday. Range Resources Corporation has a 12 month low of $32.60 and a 12 month high of $48.31. The firm has a market cap of $9.38 billion, a PE ratio of 10.54 and a beta of 0.42. The firm has a 50 day simple moving average of $42.34 and a 200 day simple moving average of $39.35. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.55 and a quick ratio of 0.55.

Range Resources (NYSE:RRC) last issued its quarterly earnings results on Tuesday, April 21st. The oil and gas exploration company reported $1.52 EPS for the quarter, beating the consensus estimate of $1.25 by $0.27. The business had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $898.20 million. Range Resources had a net margin of 26.09% and a return on equity of 18.64%. The firm’s quarterly revenue was up 49.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.96 EPS. Equities research analysts forecast that Range Resources Corporation will post 3.7 earnings per share for the current fiscal year.

Range Resources Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 26th. Investors of record on Friday, June 12th will be given a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Friday, June 12th. Range Resources’s dividend payout ratio is 10.58%.

Analyst Ratings Changes

RRC has been the subject of several recent research reports. Truist Financial cut their target price on shares of Range Resources from $48.00 to $46.00 and set a “hold” rating for the company in a research note on Thursday, April 9th. TD Cowen increased their target price on shares of Range Resources from $40.00 to $45.00 and gave the company a “hold” rating in a research note on Tuesday, March 17th. Bank of America increased their target price on shares of Range Resources from $38.00 to $44.00 and gave the company a “neutral” rating in a research note on Tuesday, April 21st. Citigroup cut their target price on shares of Range Resources from $50.00 to $45.00 and set a “neutral” rating for the company in a research note on Tuesday, April 14th. Finally, Wells Fargo & Company increased their target price on shares of Range Resources from $43.00 to $46.00 and gave the company an “equal weight” rating in a research note on Thursday, February 26th. Two equities research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, thirteen have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $44.00.

Insider Activity at Range Resources

In related news, Director Brenda A. Cline sold 7,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 7th. The shares were sold at an average price of $44.40, for a total value of $310,800.00. Following the completion of the sale, the director owned 28,668 shares in the company, valued at approximately $1,272,859.20. This represents a 19.63% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.10% of the company’s stock.

About Range Resources

Range Resources Corporation, headquartered in Fort Worth, Texas, is an independent energy company engaged in the exploration, development and production of natural gas, oil and natural gas liquids. The company focuses its core operations on the Appalachian Basin, with a significant presence in Pennsylvania’s Marcellus Shale. Through its drilling and completion activities, Range Resources seeks to optimize production efficiency while maintaining a disciplined approach to capital allocation and cost management.

The company’s technical expertise centers on advanced horizontal drilling and hydraulic fracturing techniques, which it applies to unlock unconventional resources.